Low-tax freeport could create 28,700 jobs in South Yorkshire

Almost thirty thousand new jobs could be created if a bid to give South Yorkshire freeport status is successful.

If given the green light South Yorkshire would become one of ten new freeports across the UK. It would mean normal tax and customs rules do not apply, adding £169m to the area's economy every year.Businesses can import components and ingredients duty free, manufacture them into something else and export them.

The scheme is part of the Chancellor Rishi Sunak's levelling up agenda and his plans for post-Brexit Britain. The move is being backed by Doncaster Sheffield Airport and the nearby iPort logistics hub.

It's claimed freeport status would benefit major manufacturers, including Sheffield Forgemasters, Liberty Steel and McLaren Automotive, and see the development of more than 360 hectares of land around junction 36 of the A1M.

Sheffield City Region Mayor Dan Jarvis said: “Establishing a freeport will help our region’s businesses and universities export ideas, goods and services across the world, supporting our ambitions for a new era of prosperity and a stronger, greener and fairer economy for South Yorkshire after the coronavirus pandemic.''

He added: “Our region has incredible strengths in research and innovation and businesses capable of substantial growth. Government must now back our bid to establish a freeport to generate the jobs, training and investment needed to deliver prosperity for people and businesses across the region and the North.

The area covered by freeport status would include Barnsley, Doncaster, Rotherham and Sheffield.